UTI – Mid Cap Fund declares tax-free dividend of 20% (Rs. 2.00 per unit on face value of Rs.10/-). Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy (if applicable).
The record date for the dividend is June 15, 2009.
All unitholders registered under the dividend option of UTI – Mid Cap Fund as on June 15, 2009 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.
The NAV per unit as on June 08, 2009 was Rs.16.50 under the dividend option.
UTI Mid Cap Fund is an open-ended equity oriented scheme. The investment objective of the Fund is ‘capital appreciation’ by investing primarily in mid cap stocks.
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The Fund looks to invest at least 65% of its Assets in equity and equity related instruments issued by companies which are constituents of CNX Midcap Index or S&P CNX 500 but not a part of BSE Sensex (30) or Nifty (50), at the time of investment. Also, no stocks, which are among the top 50 stocks in terms of market capitalisation, form part of the aforesaid 65% of the net assets of UTI Mid Cap Fund at the time of investment. Upto 35% of the Assets can be invested in equity and equity related instruments issued by companies with a potential for consistent growth and are relatively undervalued to their expected long-term earning growth.
Mr. Anoop Bhaskar is the Fund Manager of the Scheme.
About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund has assets under management (average) of Rs. 63,437.86 crore and investor accounts of over 9.69 million (as of May 31, 2009).
